Analysts from Bernstein Research have further reduced its Macau GGR estimates for the month of May, with border and travel restrictions continuing to impact the gambling enclave.
The analysts had earlier pinned a potential easing of travel restrictions around late May, however, none have come to pass as of yet.
Bernstein said they are now expecting GGR in May to fall 95 to 97 percent year-on-year, down from estimates of 90 to 95 percent, which were made last week.
“Our contacts we have spoken with do not see any definitive clarity on travel restrictions improvement, but we expect GGR to pick up again when travel restrictions begin to be lifted.”
However, Bernstein stands by its forecast that border restrictions will be lifted “sometime in the next few weeks.”
The analysts have further reduced its GGR forecast for the year – a decline of 44 percent year-on-year.